In this Thursday, April 28, 2016, file photo, trader David O'Day works on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)

(Newser)
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Stocks are closing lower on Wall Street, erasing a big gain from the day before. Energy companies and banks had some of the biggest losses Tuesday, the AP reports. JPMorgan Chase and Chevron each sank 2%. Traders were discouraged by more signs of weakness in China's economy. European markets also closed lower after growth forecasts for that region were lowered. Several companies fell after reporting disappointing results. Pitney Bowes, which makes office mailing equipment, lost 10%. The Dow Jones industrial average fell 140 points, or 0.8%, to 17,750. The Standard & Poor's 500 index lost 18 points, or 0.9%, to 2,063. The Nasdaq composite fell 54 points, or 1.1%, to 4,763.